Field of the Invention
This invention relates to a system for exchanging, between several entities, quantities which are expressed in different units of measurement but convertible to and from one another, each of these units being associated with a parameter varying randomly as a function of time.
It applies notably, though not exclusively, to international exchanges of goods and services which are usually carried out using a counterpart value expressed in one or more currencies, and, in certain cases, using the currency of one state as reference currency. However, it so happens that, on the one hand, the real value (in terms of purchasing power) of the currencies of all states, without any exceptions, are subjected to variations occurring more or less suddenly, and, on the other hand, currency exchange rates undergo unforeseeable fluctuations that can entail considerable losses in the case of international transactions. These variations are brought about by a large number of factors, particularly the economic strength of the state in which the currency is issued, the quantity of money issued and currency speculation.
Indeed, it is crucial that the prices, in real value, demanded and paid for goods and services exchanged between states be set over a period of sufficient duration. This is not the case due to the fact that national currency exchange rates rise and fall, in a chronically feverish manner, and which most often do not therefore reflect the true relative positions, either at the time or at which they can be estimated at some point in the future, of the states in which these currencies are issued.
Furthermore, with the current monetary system, the exchange rates between currencies cannot be stabilized. In fact, when a currency is artificially driven downward in relation to other currencies as a result of speculation, the only means of countering this speculation, in order to stabilize the exchange rate in relation to the other national currencies, consists in exchanging said currency for a corresponding quantity of a stronger currency issued for this purpose. However, this operation has the effect of increasing the supply of money in circulation in the case of the stronger currency, and therefore of increasing inflation in the market of the country that issued said currency.